charitylawyerblog.com
Reporting Diversions of Nonprofit Assets
The Washington Post has identified over 1,000 nonprofit organizations that have reported a “significant diversion” of nonprofit assets. Its important to note that there are over 1,616,000 tax-exempt nonprofits in the U.S. today; thus, these filings represent less than 1% of tax-exempt nonprofits. It’s also interesting to note that a quick review of Arizona’s list includes only 21 organizations - most of which reported the diversions in a clear, transparent, and confidence inspiring manner.